The trade magazine reported that the Queen of Pop will helm a royal drama – "W.E.," the true-life story of King Edward VIII, the English monarch who abdicated the throne to marry an American divorcee, Wallis Simpson.

"Up In The Air" star Vera Farmiga is reportedly "eyeing" the Simpson role, with her kingly co-star not yet known.

Madonna previously directed 2008's "Filth and Wisdom," and will be writing the script for "W.E." with Alex Keshishian, who directed the singer in 1991's "Truth or Dare."

Variety did not note if Madonna would be in front of the camera as well as behind it, but fans will be able to get their Madonna fix elsewhere — as previously reported on AccessHollywood.com, the star will appear on a future episode of upcoming NBC reality show "The Marriage Ref."